"...then 51% - formal takeover statement made, compulsory...

"...then 51% - formal takeover statement made, compulsory acquisition, etc."

Make that 90% and it's a done deal.

I know because Gina did it to Atlas Iron.

Hostile Take Over

Compulsory acquisition

A bidder under a takeover bid¹¹ may compulsorily acquire any remaining securities in the bid class if during, or at the end of, the offer period, the bidder and their associates have:

• relevant interests in at least 90% (by number) of the securities in the bid class and
• acquired at least 75% (by number) of the securities that the bidder offered to acquire under the bid.

Ch 6A sets out the requirements for any compulsory acquisition process.